Judge Napolitano Slams 'Reprehensible, Immoral' Spending Habits Of Now-Bankrupt Californian City
On Fox's America Live this afternoon, senior judicial analyst Judge Andrew Napolitano took on the news of how a judge ruled that Stockton, Calif., can become the first American city to declare bankruptcy by slamming the local government's "reprehensible" spending habits that led to their dodging debt obligations via insolvency.Full Story
#1 Apr 3, 2013
Agree with the judge.
Stockton politicians did this to Stockton and no one else is to blame.
#3 Apr 4, 2013
Ultimately it is the politicians that control purse strings and control spending.
I do feel sorry for current folks running Stockton that may have taken over after and were stuck with the deals their prior conterparts made.
Two major problems here:
1. Giving everyone what they want to buy their votes and stay in office. That can be union membership, welfare folks, construction companies looking for big contracts and the list goes on. CA wants to promote socila welfare of non productive through taxing the productive then let CA deal with the end result. Stockton is only the first city in one of many states CA, IL, NY and others that will find this same end. I know a lot of retired CA public employees here that left CA because of the taxes that pay their very pensions. Many politicians know the fall out will occur long after they themselves retire and take the same super pensions they implemented.
2. This will always be great (the economy) and we will always have this tax revenue so let's spend it. Rainy days ALWAYS HAPPEN somewhere along the line. Things change at both national and local levels. When a down turn occurs and you decide, as a politician, you will just tax me more to deal with more than likely I will get the U-haul and move (could explain why Texas population is increasing while California is dropping. On the national level I believe there have been a few billionairs that have denouced the citizenship and moved to get away from taxes (a certain facebook founder comes to mind).
Basically they do not get the point that you can get blood from a rock and when all the productive (tax paying) folks get enough and leave and they are only left with the takers they are done.
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